CLOSE After days of watching the stock price sink faster than competitors, and concerns about the strategic direction of Ford Motor Co., incoming chief operating officer Jim Farley took to the stage to make his first public speech in New York early Wednesday. Investor expectations were high — and ultimately unmet — that he would announce a significant and dramatic plan for re-positioning the company. … Continue reading Ford COO Jim Farley lays out brutal reality for investors in first public speech
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FCA CEO Manley’s total compensation was $14.4M in 2019
CLOSE Fiat Chrysler CEO Mike Manley had total compensation of $14.4 million in 2019, although his direct compensation for the year was less. (Photo: Junfu Han, Detroit Free Press) Mike Manley had more than $14.4 million (13.3 million euros) in total compensation in 2019, his first full year as CEO of Fiat Chrysler Automobiles. The figure,… Continue reading FCA CEO Manley’s total compensation was $14.4M in 2019
Waymo joins backlash against California self-driving data requirement
(Reuters) – Alphabet Inc’s (GOOGL.O) Waymo and General Motors Co’s (GM.N) Cruise are leading a backlash against a California reporting requirement on self-driving vehicle test data that the companies claim is not relevant or accurate in measuring performance or progress. FILE PHOTO: Reuters reporter Alexandria Sage steps out of a Waymo self-driving vehicle during a… Continue reading Waymo joins backlash against California self-driving data requirement
Tier Mobility acquires Coup’s electric moped scooters
Tier Mobility operates a scooter service, the kick-scooter-with-a-motor kind. And it has acquired assets from Coup, a now-defunct scooter service, the moped kind. Coup shut down late last year, and Tier Mobility plans to take over and start its own shared moped service. To be clear, Coup is over, but its mopeds will stick around.… Continue reading Tier Mobility acquires Coup’s electric moped scooters
Panasonic is ending its solar cell partnership with Tesla
Panasonic said it will stop producing solar cells and modules at Tesla’s factory in Buffalo, N.Y., ending a four-year joint venture with the electric automaker. Nikkei Asian Review was the first to report that Panasonic planned to end its production agreement with Tesla. Panasonic has since issued an announcement to explain its decision. Tesla did… Continue reading Panasonic is ending its solar cell partnership with Tesla
Tesla’s secret Roadrunner project: new battery production at $100 per kWh on a massive scale
Electrek has learned more about Tesla’s secret project “Roadrunner”: applying “the machine that builds the machine” strategy to produce cheaper battery cells on a massive scale. $100 per kWh has been described as the price target for batteries to enable electric vehicles to reach a price parity with gasoline cars without subsidies. If combined with… Continue reading Tesla’s secret Roadrunner project: new battery production at $100 per kWh on a massive scale
NIO starts production of its new EC6 electric SUV coupe
The production of the highly anticipated NIO EC6 SUV EV kicked off at the JAC-NIO Advanced Manufacturing Center in Hefei. NIO shows it is continuing its climb out of last year’s slump. William Li, Founder, Chairman and CEO of NIO and An Jin, Chairman of JAC announced the official launch of the production of NIO’s… Continue reading NIO starts production of its new EC6 electric SUV coupe
A ‘sense of urgency’ at Ford, says automaker’s new chief operating officer
Ford Motor Co.’s incoming chief operating officer on Wednesday sought to calm investor concerns, emphasizing his top priority is to ensure the Dearborn automaker’s major vehicle introductions this year go smoothly. “Everyone at Ford Motor Co. knows the situation we’re in,” said Jim Farley, Ford’s strategy chief, said at a Wolfe Research conference in New York, likening the company’s… Continue reading A ‘sense of urgency’ at Ford, says automaker’s new chief operating officer
FCA CEO Mike Manley received $12.5 million in compensation in 2019
Fiat Chrysler Automobiles NV CEO Mike Manley in 2019 received $12.46 million (11.45 million euro) in compensation for his first full year leading the Italian American automaker. In a filing Tuesday with the Securities and Exchange Commission, Fiat Chrysler said it neared the $14 million total pay target for Manley it had projected last year. The automaker was the first of Detroit’s… Continue reading FCA CEO Mike Manley received $12.5 million in compensation in 2019
MG Motor UK opens new dealership at historic Longbridge site
MG Motor UK has launch Paul Rigby MG Longbridge. Situated in the historic conference centre at the Longbridge site, the newly established dealership joins a growing network of MG retailers in and around the UK. Paul Rigby MG Longbridge represents the group’s first venture into the MG brand. Sam Rollason, sales manager at Paul Rigby… Continue reading MG Motor UK opens new dealership at historic Longbridge site